Salaam Somali bank’s branch in Kismayo, the interim regional capital of Jubaland state provided free microfinance funds to small business people who are in dire need of assistance to developing their trade.
At a ceremony held at the bank’s HQs, the beneficiaries of the Qardu Hassan program thanked the management and staff of the Bank and said that they are very pleased with the investment opportunity.
Qardul Hassan is a multi-monthly banking program designed to be rolled out in all regional and urban banking centers in the country and is designed to grow and encourage emerging businesses.
The bank has already provided similar funds at several centers in Somalia. The management said they will continue this program and will soon disburse all the remaining branches across the country.
The main purpose of the bank’s disbursement is to increase the productivity of emerging businesses and encourage their businesses, a move that contribute significantly to the nation’s economic revival.